HOUSING POLICY – AUSTRALIA

Audit for PM’s flagship housing fund

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian – Page: 1 & 4 : 29-Oct-25

The Australian National Audit Office will undertake a review of the federal government’s $10bn Housing Australia Future Fund, amid growing criticism of the fund. Auditor-General Caralee McLiesh has advised that the ANAO wil also examine the effectiveness of the Treasury’s design and delivery of the HAFF. Liberal senator Andrew Bragg has described the HAFF as one of the nation’s biggest public policy disasters, likening it to the previous Labor government’s Pink Batts home-insulation scheme. The HAFF aims to build 40,000 social and affordable homes by 2028, and it is part of the government’s target of building 1.2 million new dwellings over five years.

CORPORATES
AUSTRALIA. HOUSING AUSTRALIA FUTURE FUND, AUSTRALIAN NATIONAL AUDIT OFFICE, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

‘Not confident’: RBA pours cold water on Labor’s housing dream

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian – Page: 1 & 4 : 1-Oct-25

The Reserve Bank of Australia had been widely tipped to leave the cash rate unchanged at its monetary policy board meeting yesterday. Financial markets have priced in a 40 per cent chance of a rate cut at the next meeting in November, but RBA governor Michele Bullock says progress on returning core inflation to its mid-point target of 2.5 per cent will determine the next move on interest rates. Quarterly inflation data to be released ahead of the next board meeting is likely to be crucial. Meanwhile, Bullock has warned that federal government action to boost supply is unlikely to address the housing market’s structural deficit in the next two years.

CORPORATES
RESERVE BANK OF AUSTRALIA

Capital gains tax reform needed to address inequality

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 25 : 27-Aug-25

The National Housing Supply & Affordability Council’s chair Susan Lloyd-Hurwitz was one of the participants in the federal government’s economic reform roundtable. She contends that a "very large conversation" is needed with regard to intergenerational inequity and intra-generational inequality; Lloyd-Hurwitz adds that any such discussion must include changes to the capital gains tax regime for investment properties, in order to address the issue of housing inequality. Lloyd-Hurwitz is the former CEO of listed property developer Mirvac Group.

CORPORATES
AUSTRALIA. NATIONAL HOUSING SUPPLY AND AFFORDABILITY COUNCIL, MIRVAC GROUP – ASX MGR

Australia does not have enough tradies to fulfill Labor’s housing promise, experts say

roymorgansocial Leave a comment

Original article by Luca Ittimani
The Guardian Australia – Page: Online : 15-Apr-25

About 170,000 new homes are currently built nationwide every year, but Labor aims to lift this to 250,000 annually for the next four years it wins the federal election on 3 May. However, the Housing Industry Association’s chief economist Tim Reardon contends that labour constraints within the construction industry means that the nation currently has the capacity to build 200,000 to 220,000 new homes each year. The HIA estimates that an additional 80,000 tradespeople are required nationwide. Reardon notes that many ‘tradies’ are opting to move to industries such as mining, while many school leavers are rejecting a career in the construction sector.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY

Foreign buyers to be banned from purchasing existing homes

roymorgansocial Leave a comment

Original article by Remy Varga
Herald Sun – Page: Online : 26-Mar-25

The budget papers show that the federal government will impose a two-year ban on foreigners buying established homes, with the policy slated to take effect from 1 April. The budget has allocated $5.7m for the Australian Taxation Office to enforce the ban, while the ATO will be given $8.9m to crack down on ‘land banking’ by foreign buyers. The government will also expand the Help to Buy shared equity scheme for home buyers, and provide eligible construction industry apprentices with grants of up to $10,000 as part of its strategy to address the skills shortage that is contributing to the housing crisis.

CORPORATES
AUSTRALIAN TAXATION OFFICE

Double dissolution election threat is serious, says Labor

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 3-Oct-24

The Greens recently blocked the federal government’s Help to Buy legislation in the Senate, forcing a vote on the bill to be delayed until November. However, Housing Minister Claire O’Neil has confirmed that Labor intends to reintroduce the bill for a shared equity scheme to the lower house when parliament resumes next week. The bill could potentially be used as a trigger for a double dissolution election, and O’Neil says this remains a "live option". The window for a double dissolution election is very narrow, and the government is likely to stick to the regular election cycle.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF SOCIAL SERVICES

Double dissolution election threat to be revived in parliament over housing fight, as $100m crisis fund opens

roymorgansocial Leave a comment

Original article by Tom Lowrey
abc.net.au – Page: Online : 2-Oct-24

The federal government hopes to resolve an impasse over its Help to Buy housing bill when it is put before parliament again next week. The Coalition opposes the shared equity scheme, while the Greens have sought major concessions in other areas of housing policy in return for supporting the bill. Housing Minister Claire O’Neil has left open the possibility of a double-dissolution election if the bill continues to be stalled in the Senate. Meanwhile, the government has begun accepting applications for grants via the Crisis and Transitional Accommodation Program, which will provide financial assistance for victims of domestic violence.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN GREENS

Immigration and ideology add fuel to housing crisis

roymorgansocial Leave a comment

Original article by Judith Sloan
The Australian – Page: 11 : 18-Sep-24

The federal government’s target of 1.2 million new homes in five years will not be met. Although Canberra has some levers it can pull to boost housing stock, most of the control rests with state and local governments. In addition, the construction of new homes is almost completely reliant on the private sector. Meanwhile, the federal government has been contributing to the housing crisis by ramping up the migrant intake. All levels of government are also obsessed with the ideology of greater housing density, despite the fact that many people do not want to live in high-rise apartment buildings.

CORPORATES

Labor’s housing plan panned as a trivial side issue

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 8 : 6-Mar-24

The Centre for Independent Studies’ chief economist Peter Tulip appeared before a Senate committee on Tuesday. He expressed support for the federal government’s target of building 1.2 million homes in five years. However, Tulip contended that the government’s Help to Buy shared equity scheme is a "trivial distraction" from real solutions to address the housing affordability crisis; he warned that the scheme will only benefit 40,000 home buyers, while increasing house prices and rents for all Australians. The Coalition opposes the scheme, while the Greens are demanding a number of concessions to gain their support.

CORPORATES
THE CENTRE FOR INDEPENDENT STUDIES LIMITED, AUSTRALIAN GREENS

Negative gearing change can win support: Greens

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 4 : 28-Feb-24

Prime Minister Anthony Albanese has told a meeting of Labor’s caucus that legislation to establish the Help to Buy shared equity scheme for home buyers is expected to be passed by the lower house this week. However, the said the bill is likely to be blocked in the Senate by the Liberal Party and the Greens. Meanwhile, the Greens have signalled that they are open to a compromise on negative gearing in return for supporting the Help to Buy scheme. The party has proposed restricting negative gearing to existing investment properties, and progressively scrapping the regime for people who buy additional properties.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA